Business
IAG (ASX:IAG) share price takes wild ride on Greensill fears
The Insurance Australia Group Ltd (ASX: IAG) share price is on a roller coaster today. Shares in the insurer crashed 10.6% to a 5-year low of $4.30 before being placed in a trading halt. Since resuming trade, the share price is at $4.60, almost 5% down on yesterday’s close.
In contrast, the S&P/ASX 200 Index is up 0.47%.
Let’s take a closer look at what is weighing on the IAG share price.
IAG and Greensill’s insolvency
As previously reported, Greensill was a supply-chain debt provider. Its business model was to provide funds to suppliers awaiting accounts receivable in the form of a loan to the purchasing business.
As with the 2008…
-
Noosa News21 hours agoMeet Chad Burgess, Pauline Hanson’s One Nation Party
-
Noosa News24 hours agoFrom Dreamy Dining Rooms to Moody Basement Bars, Nearly 200 Venues Have Been Shortlisted for the 2025 Australian Interior Design Awards
-
Noosa News22 hours agoWestern Queensland graziers begin grim stock count after catastrophic floods
-
General20 hours agoTyler Wright soaks up Bells Beach return as poor conditions at Rip Curl Pro sees men’s opening round called off